Property sales across the Hawkes Bay region at 155 in the month fell on a seasonally adjusted basis in October but showed a 23% rise as compared to a year ago. The inventory of unsold houses on the market fell slightly to 44 weeks to sit just in line with the long-term average of 45 weeks of equivalent sales.

Median sales price of properties sold in the Hawkes Bay at $259,500 was down 10% as compared to a year ago and down from the prior month. The asking price expectation of new listings was down just 2% as compared to a year ago at $338,835.

The level of new listings coming onto the market in October at 346 was down from prior month and down a significant 38% as compared to a year ago.